Nov 08, 2013. /Lesprom Network/. Around RMB1.3 billion ($217 million) has been invested in the new Manzhouli International Timber Trading Market in China. Building started in May 2012 and the first stage will be completed by the end of 2013 and ready for business by March next year, ITTO reported.

On completion the market will accommodate more than 1000 domestic and foreign merchants and will deal mainly with imported Russian timber.

Manzhouli city has several advantages in terms of international trade and in recent years wood products from the area have been sold to Russia, Mongolia, Japan and South Korea. In addition trade with Denmark, Germany and Canada has expanded.